HB Cables and Components Limited Filleted accounts for Companies House (small and micro)
HB Cables and Components Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
05766437
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Financial Statements |
Year ended 30 April 2023
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
3 |
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
9 |
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Profit and loss account |
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Shareholders funds |
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Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
29 January 2024
, and are signed on behalf of the board by:
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Director |
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Company registration number:
05766437
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Notes to the Financial Statements |
Year ended 30 April 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 72 St Johns Road, Stansted, Essex, CM24 8JS, England.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Foreign currencies
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery |
- |
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Motor Vehicles |
- |
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Investment property
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2022:
3
).
5.
Tangible assets
Investment property |
Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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Cost or valuation |
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At 1 May 2022 |
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Additions |
– |
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– |
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Revaluations |
(
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– |
– |
(
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At 30 April 2023 |
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Depreciation |
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At 1 May 2022 |
– |
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Charge for the year |
– |
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– |
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At 30 April 2023 |
– |
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Carrying amount |
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At 30 April 2023 |
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– |
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At 30 April 2022 |
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– |
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The Investment Property was adjusted to fair value by the director at year end. The director has appropriate expertise and has valued the property on the basis of the agreed letting terms. The historical cost of the investment property is £400,623.
6.
Debtors
2023 |
2022 |
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£ |
£ |
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Trade debtors |
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7.
Creditors:
amounts falling due within one year
2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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Social security and other taxes |
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Director loan accounts |
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Other creditors |
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Bank loans and overdrafts includes a loan of £12,293 (2022: £11,798) which is secured by a fixed legal charge over the investment property.
8.
Creditors:
amounts falling due after more than one year
2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Bank loans and overdrafts includes a loan of £122,567 (2022: £135,355) which is secured by a fixed legal charge over the investment property.
Included within creditors: amounts falling due after more than one year is an amount of £73,394 (2022: £88,163) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9.
Called up share capital
Issued, called up and fully paid
2023 |
2022 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
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10.
Related party transactions
At the year end the company owed the director £31,070 (2022: £66,797) in the form of a loan. This loan, which is shown amongst creditors, is interest free and repayable on demand.